...+ Indonesian real estate developer KIJA's property sales have picked up strongly since April 2016. + We expect the more robust sales momentum to partly offset higher debt from KIJA's proposed refinancing and its debt-to-EBITDA ratio to fall below 3.5x in 2017. + We are affirming our 'B+' long-term corporate credit rating on KIJA, our 'B+' issue rating on the company's senior unsecured outstanding notes, and our 'axBB' ASEAN regional scale rating. + We are also assigning our 'B+' issue rating to the company's proposed US$200 million senior unsecured notes maturing in 2023. + The stable outlook reflects our expectation that KIJA's debt-to-EBITDA ratio will fall below 3.5x in 2017 amid improving marketing sales, steady margins, and stabilized debt levels. SINGAPORE (S&P Global Ratings) Sept. 13, 2016--S&P Global Ratings said today that it had affirmed its 'B+' long-term corporate credit rating on PT Kawasan Industri Jababeka Tbk. (KIJA). The outlook is stable. We also assigned our 'B+' issue...
